Fraud Tips – Don’t be a target this season, by Michael W. Fenner, CBA

Wow…it’s hard to believe the holidays are just around the corner. We all know this time of the year we need to be more vigilant in regard to protecting our assets. I wanted to take a few minutes and list some bullet points to think about so you can share with your teams. I don’t have all of the answers so feel free to share your experience as well. You know if we close any potential loop holes now we will save our companies some money and hopefully minimize any possible theft this holiday season. Let’s make sure we all review our credit policies with our team members today.

Below are some tips about accepting checks and or credit cards:

Know your customer. – Have you dealt with this person before? If not, it might be a sign.

Avoid taking credit card payments over the phone from customers you don’t know. – It’s hard to verify the identity of the person on the phone. Have them come in to verify them and swipe the card.

The customer won’t show their ID. – Call the company number on the check to verify the person, call the bank to see if the account is open or closed. Chances are something will come out of the additional questions you are asking.

Is the driver’s license preprinted on the check or prewritten on the check already? – Still take the time to review and verify the customer’s identification. They could be trying to slip one by you.

Is a rental truck picking up the material? – Notify your yard personnel to keep an eye out for customers loading material into rental trucks. This is a very common sign.

Are they not from your area? – Is there ID from San Diego but they are purchasing from you in Los Angeles? They may have a job in your area but keep an eye out for this one.

How is the customer acting, are they nervous? – Are they avoiding eye contact, are they acting suspicious, being pushy after a very simple request?

Does the e-mail address match up with the company name? – Double check to see if the e-mail address matches up with the information on the check and or credit card authorization form.

An out of the area phone number. – Do they have an area code that isn’t from your area. Take a second look and confirm.

If it doesn’t feel right it probably isn’t. – We all have that gut feeling at times. Have your teams contact your credit department if they are feeling uncomfortable.

Did I mention know your customer? – Always make sure you know who you are dealing with.

Fraud can hit us many different ways, but it always bites us. They are always persistent and unyielding and it doesn’t matter where you are from New York to California. At times they are highly organized and very sophisticated. And other times they are by themselves looking for an easy target. Don’t be an easy target. As always keep your eyes and ears open.

Thank you for taking a few minutes out of your busy schedule to read my blog.

Please remember we need you to support “your” credit association when you can and as always “thank you” for your support. I encourage you to send in any ideas to improve your credit association. Let me know your thoughts. I’d love to hear your feedback.

Michael W. Fenner, CBA, is the Credit Management Association Chairman and Regional Credit Manager for Beacon Roofing Supply. He can be reached at 714-321-8187, or mfenner@becn.com.